| Online Discount Brokerage Account Set Up
Fees: About the Brokerage Firm: The online discount brokerage accounts are established through our correspondent online discount brokerage firm in Panama City, Republic of Panama. The brokerage firm is an NASD registered, licensed and insured international financial institution. All securities and cash deposits are held in custody by one of the worlds largest international clearing firms. Each account is insured through the SIPC (Securities Investor Protection Corporation) up to US$500,000 and carries additional insurance up to US$99.5 million through a major international insurance carrier. The brokers/financial advisors are English or Spanish speaking, NASD registered, licensed brokers who can provide you with sound investment advice for investing in mutual funds, stocks, bonds, options, money markets, etc. They mainly trade on the US and Canadian stock exchanges (NYSE, NASDAQ, AMEX, Toronto, etc.), however, they can trade on most major securities exchanges around the globe. Trade
Fees: Account
Features: Annual fee for the Visa Debit Card is US$75. There are no transaction fees charged for ATM cash withdrawals. You must have a minimum balance of US$25,000 in order to qualify for a debit card, however, you do not need to maintain US$25,000 in the account during the use of the debit card. The USD checkbook is used to make payments by check to anyone around the globe. The checks are internationally accepted by most banks around the globe. The checkbook will be provided once the initial minimum deposit of US$3000 is made. Internet access is provided so you can access your account information online and begin trading using a secured password and userID. Funds can only be held in USD. Any transfers received in other currencies will be immediately converted to USD prior to entering the account. The following documentation is required: A. Photocopy of passport for each signatory. The photocopy of passport should be notarized, and should include the photo of the person, the personal details (name, date of birth, passport number, etc.), and the signature. The photocopy should be clear and legible. Note: If a passport is not available, a notarized photocopy of a valid government issued drivers license may be substituted as long as it has your signature, personal details, and photo.
* Documentation
requirements are subject to change without notice. C.
Account Applications: You must also sign the account applications. The minimum account opening deposit is US$3000, which should be made by USD check or wire transfer. After the account is set up, additional deposits may be made by USD check, securities transfer, or by wire transfer. We will forward you the check deposit, securities transfer, and wire transfer instructions once the account is set up.
- Account
Opening Fee: Free w/ purchase of entity, otherwise US$500 * Fees are subject to change without prior notice. We do not guarantee the accuracy of the above published fees. ** Third party wire transfers are not permitted. Wire transfers out are only permitted to accounts with the same name. For example, "Joe Smith" can only wire funds to another account with the beneficiary name "Joe Smith". For payments to third parties, you must use the checkbook or MasterCard debit card. We recommend that if you need to make payments to third parties by wire transfer, you should set up a bank account instead of a brokerage account. *** Internal transfers (journals) to accounts within the same institution are permitted. **** Acceptable deposits are USD Checks (personal or bank certified checks), wire transfers, or publicly traded securities. Unacceptable deposits are cash, money orders, travelers checks, double endorsed checks, foreign items/thrift withdrawal orders, returned checks, and checks referring to more than one account number.
C. Receive Documents - Once we receive payment for the structure, we will forward you the brokerage account applications for your signature. You should sign the account applications where indicated, and forward them back to us along with the required documentation and initial deposit check. D. Account is Set Up - When we receive the signed applications, the account applications will be forwarded to the brokerage firm. The account number will generally be provided within 5 business days from the date the documents are submitted to the brokerage firm. E. Begin Using Account - You will receive the complete account protocol for making deposits, executing trades, contact information of the brokerage firm, etc.
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